SRS Capital Advisors Inc. Grows Position in General Mills, Inc. (NYSE:GIS)

SRS Capital Advisors Inc. increased its holdings in General Mills, Inc. (NYSE:GIS) by 358.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,982 shares of the company’s stock after acquiring an additional 3,114 shares during the quarter. SRS Capital Advisors Inc.’s holdings in General Mills were worth $254,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Endeavor Private Wealth Inc. bought a new position in General Mills in the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in General Mills in the fourth quarter worth about $31,000. Bank of Jackson Hole Trust bought a new position in General Mills in the fourth quarter worth about $34,000. Planning Capital Management Corp raised its holdings in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in General Mills in the fourth quarter worth about $38,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of NYSE:GIS opened at $61.15 on Wednesday. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The company’s 50 day moving average is $60.41 and its 200 day moving average is $66.13. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The company has a market cap of $33.71 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the company earned $1.25 EPS. General Mills’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 3.92%. General Mills’s dividend payout ratio is presently 52.17%.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

GIS has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Mizuho reduced their target price on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Wells Fargo & Company reduced their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Bank of America cut their price objective on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Barclays cut their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.06.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.